Bloomberg Surveillance

Anthony Malkin, Empire State Realty Trust President and CEO, urges leaders to get out of the Hamptons and back to the office. Lori Calvasina, RBC Capital Markets Head of U.S. Equity Strategy, says the fact that economic data has plateaued shows that the market is unsure of what direction to go in as a result of the Covid-19 pandemic. Kathy Jones, Charles Schwab Chief Fixed Income Strategist, says inflation will gradually get better but it is going to time. Howard Dean, former Democratic National Committee Chair and former Vermont Governor, says the DNC is aimed at disaffected Republicans who want to see honesty back in the government.See omnystudio.com/listener for privacy information.

David Malpass, World Bank President, says China needs to participate in debt relief plan for poor countries. Jill Carey Hall, BofA Securities U.S. Equity Strategist & Head of U.S. SMID Cap Strategy, says there is divergence within the market in terms of valuations and performance spreads. Jim Bianco, Bianco Research Founder and Bloomberg Opinion Columnist, says there are signals on the horizon that inflation is coming in the U.S. David Rubenstein, Carlyle Group Co-Chairman and Co-Founder and Host of "The David Rubenstein Show: Peer-to-Peer Conversations," discusses his interview with Lonnie Bunch, Secretary of the Smithsonian Institution.See omnystudio.com/listener for privacy information.

Steve Chiavarone, Federated Hermes Portfolio Manager, says the stay-at-home recession in most parts of the world has ended. Robert Tipp, PGIM Fixed Income Chief Investment Strategist, says it will take a very long time to get incomes elevated although consumption is at a record level. Bob Doll, Nuveen Chief Equity Strategist & Senior Portfolio Manager, says the U.S. no longer has the interest rate advantage. Garlin Gilchrist, Lieutenant Governor of Michigan and Democratic National Committee Vice Chair, says Joe Biden and Kamala Harris are running on the most progressive agenda for opportunity and racial equity that any president has ever run on. Carla Freeman, Johns Hopkins SAIS Foreign Policy Institute Executive Director, discuss how a Biden-Harris administration might impact U.S.-China relations.See omnystudio.com/listener for privacy information.

John Bolton, Former U.S. National Security Adviser to President Trump, says that the U.S. needs to make sure that Russia stays of out Belarus. Michael Shaoul, Marketfield Asset Management CEO & Portfolio Manager, expects the physical global economy to do much better than the global services economy. Leslie Vinjamuri, Chatham House Director of the U.S. and Americas Programme, says the goal of the Democratic National Convention is to get voters excited about the Biden/Harris ticket, not just to defeat President Trump. Marta Wosińska, Duke-Margolis Center for Health Policy Deputy Director of Policy, says individuals who are not in high-risk demographics will probably not receive a Covid-19 vaccine until the spring of 2021.See omnystudio.com/listener for privacy information.

David Bailin, Citi Private Bank Chief Investment Officer, says corporate earnings and global liquidity will provide a tailwind for stocks going forward. Michael Gapen, Barclays Chief U.S. Economist, says several more months of fiscal benefits would be helpful to the economy before it can be self-sustaining. David Riley, BlueBay Asset Management Chief Investment Strategist, says it will be difficult for Europe to sustain a strong recovery because it is still dependent on global growth and trade. Lupin Rahman, PIMCO Global Head of EM Sovereign Credit, says the Covid-19 pandemic has been a liquidity shock for the bulk of emerging markets.See omnystudio.com/listener for privacy information.

Tony Dwyer, Cannacord Genuity Chief Market Strategist, says a negative feedback loop will become great enough that lawmakers in Washington will reach a stimulus deal. Lisa Hornby, Schroder Investment U.S. Fixed Income Portfolio Manager, says there is a tremendous dislocation between where markets are trading today and what the underlying economy tells us. Leland Miller, China Beige Book CEO, says the chances of seeing a broad-based solution regarding President Trump's ban of WeChat is quite low. Ian Lyngen, BMO Capital Markets Head of U.S. Rates Strategy, says the recent spike in Covid-19 cases has not flowed through the labor market yet. Jason Furman, Harvard Professor and Former Chairman of the Council of Economic Advisers during the Obama Administration, says it is unlikely that an economic stimulus deal from Congress will be reached this month.See omnystudio.com/listener for privacy information.

Jared Woodard, BofA Securities Research Investment Committee Head, expects continued volatility in markets until there is compromise on stimulus measures in Washington. Harry Tchilinguirian, BNP Paribas Head of Commodity-Markets Strategy, believes there will be another gold rally in 2021. James Bevan, CCLA Chief Investment Officer, says equities will grind higher from here. Jeffrey Wright, Eurasia Group U.S. Analyst, says Kamala Harris was the safe pick for Joe Biden’s running mate. Anna Han, Wells Fargo Securities Equity Strategist, says cyclicality will be the winning play over the longer term.See omnystudio.com/listener for privacy information.

Tony Crescenzi, PIMCO Generalist Portfolio Manager, says it is best to look toward the U.S. and Asia in terms of investing in equity markets over the next five years. Diane Swonk, Grant Thornton Chief Economist, says the need for another fiscal stimulus package is now a matter of "life and death." Henrietta Treyz, Veda Partners Director of Economic Policy Research, believes the odds of Republicans and Democrats compromising on an economic stimulus package have decreased. Admiral James Stavridis, Bloomberg Opinion Columnist and Former Supreme Allied Commander at NATO, discusses the life and legacy of Brent Scowcroft.See omnystudio.com/listener for privacy information.

Daniel Alpert, Westwood Capital Managing Partner, says the fourth quarter could reveal a financial crisis trickled from a systemic one due to households not being able to pay their rent and mortgages. Mark Zandi, Moody’s Chief Economist, says the unemployment rate will be around fourteen percent rather than ten once individuals who have stepped out of the workforce return. Diana Amoa, JPMorgan Asset Management Senior Portfolio Manager, says broad dollar dynamics matter for emerging market currencies across Asia and Europe.Dr. Jonathan Quick, The Rockefeller Foundation Managing Director of Pandemic Response, Preparedness, and Prevention, says we don't have herd immunity yet.See omnystudio.com/listener for privacy information.

Larry Kudlow, National Economic Council Director, says virus relief talks are stalemated. Jeff Rosenberg, BlackRock Portfolio Manager of the Systematic Multi-Strategy Fund, says today's payrolls report gives ammunition for another round of fiscal support. Danny Blanchflower, Dartmouth College Professor of Economics, says although nonfarm payroll numbers are positive, we need to watch underemployment figures. Tiffany Wilding, PIMCO Chief U.S. Economist, says this stronger-than-expected jobs report heightens the focus on the negotiations over another stimulus bill.See omnystudio.com/listener for privacy information.